Audit Committee

Report

2nd Meeting of the Audit Committee

Wednesday, June 14, 2023 at 12:00 P.m. - 1:00 P.m.

Council Chambers - Please check the City website for additional meeting detail information. Meetings can be viewed via live-streaming on YouTube and the City Website.

The City of London is situated on the traditional lands of the Anishinaabek (AUh-nish-in-ah-bek), Haudenosaunee (Ho-den-no-show-nee), Lūnaapéewak (Len-ah-pay-wuk) and Attawandaron (Add-a-won-da-run).

We honour and respect the history, languages and culture of the diverse Indigenous people who call this territory home. The City of London is currently home to many First Nations, Métis and Inuit today.

As representatives of the people of the City of London, we are grateful to have the opportunity to work and live in this territory.

PRESENT:

• Deputy Mayor S. Lewis (Chair), 
• P. Cuddy, 
• S. Stevenson, 
• J. Pribil, 
• and I. Cheema 

ALSO PRESENT:

• L. Livingstone, A. Barbon, M. Barnes, M. Butlin, I. Collins, S. Corman, K. denBok (KPMG), D. Escobar, M. Goldrup, M. Redden (KPMG), M. Shears, S. Swance 

  Remote Attendance: Councillor S. Trosow; F. Callocchia (MNP), D. Jaswal (MNP), R. Khairi (MNP), J. Pastorius (OEVBIA), K. Pawelec, O. Qureshi (MNP), C. Smith, B. Westlake-Power

  The meeting is called to order at 12:00 PM; it being noted that I. Cheema was in remote attendance.

   

---

1.

Disclosures of Pecuniary Interest

That it BE NOTED that no pecuniary interests were disclosed. 

2.

Consent

None.

3.

Scheduled Items

None.

4.

Items for Direction

4.1

2022 Financial Audit

• Moved by: S. Stevenson
  Seconded by: P. Cuddy

  That, the following actions be taken with respect to the 2022 Financial Audit:

  a) the 2022 Financial Report of The Corporation of the City of London BE RECEIVED; it being noted that the Audit Committee received a presentation from the Director, Financial Services with respect to this matter; and,

  b) the Audit Findings Report as prepared by KPMG for the year ending December 31, 2022, BE RECEIVED; it being noted that the Audit Committee received a presentation from KPMG with respect to this matter.

  
  
  
  Motion Passed

a.

Presentation - 2022 Financial Statements Overview

b.

Audit Findings Report for the Year Ended December 31, 2022 - KPMG

4.2

2021 Old East Village Business Improvement Area Board of Management Audited Financial Statements

• Moved by: P. Cuddy
  Seconded by: S. Stevenson

  That, on the recommendation of the Deputy City Manager, Finance Supports, the report along with Appendix ‘A’, as appended to the staff report dated June 14, 2023, entitled Financial Statements of Old East Village Business Improvement Area Board of Management for the year ending December 31, 2021, BE RECEIVED for information.

  
  
  
  Motion Passed

4.3

Briefing Note From Internal Auditor - MNP

• Moved by: P. Cuddy
  Seconded by: S. Stevenson

  That the communication from MNP, with respect to the briefing note from the internal auditor, BE RECEIVED.

  
  
  
  Motion Passed

4.4

Internal Audit Follow Up Activities Dashboard - MNP

• Moved by: S. Stevenson
  Seconded by: J. Pribil

  That the communication from MNP, with respect to the internal audit follow up activities update dashboard, BE RECEIVED.

  
  
  
  Motion Passed

4.5

Recruitment and Selection Audit - Final Report - MNP

• Moved by: P. Cuddy
  Seconded by: S. Stevenson

  That the communication dated June 2, 2023 from MNP, entitled Recruitment and Selection Audit - Final Report, BE RECEIVED.

  
  
  
  Motion Passed

4.6

PS 3280 - Asset Retirement Obligations (ARO) Audit - MNP

• Moved by: S. Stevenson
  Seconded by: P. Cuddy

  That the communication dated June 1, 2023 from MNP, entitled PS 3280 - Asset Retirement Obligations (ARO) Audit, Final Report, BE RECEIVED.

  
  
  
  Motion Passed

5.

Deferred Matters/Additional Business

None.

6.

Adjournment

• Moved by: P. Cuddy
  Seconded by: S. Stevenson

  That the meeting BE ADJOURNED.

  
  
  
  Motion Passed

  The meeting adjourned at 1:08 PM.